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Dear Valued Cardholder

In accordance with a directive from Bank Negara Malaysia, all card issuing financial institutions provide an interest free period of at least 20 days from the statement date on all retail transactions. However, we wish to inform you that OCBC BankCard has decided to provide an interest free period of 30 days from the statement date. This will be applicable for retail transactions posted into the account on or after 1 March 1996.

2) Arising from the interest free period for retail transactions, interest charges on cash and quasi-cash transactions will now be computed from the date of the current monthly statement. This will be applicable for cash and quasi-cash transactions posted into the account on or after 1 March 1996. A copy of the relevant revised clauses of the Cardholder's Agreement which explains the interest computation method is attached for your perusal and retention. The interest rate will be retained at 18% per annum.

3) Should you need any clarification, please do not hesitate to contact our Customer Relation Officers at 00-292 XXXX.

Thank you

Yours faithfully

 

Vincent

President Consumer Banking


     
directive   An order or instruction, especially one issued by a central authority.
     
quasi   Used to show that something is almost, but not completely, the thing described
     
for you perusal   For you to read
     
 
     
 
 

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